Mediator in Caesars bankruptcy case resigns
By Tracy Rucinski, Reuters
The mediator trying to resolve the $18 billion bankruptcy of Caesars Entertainment Operating Co Inc (CEOC) abruptly stepped down on Friday, according to a court filing, adding another twist to the complex case.
CEOC filed for bankruptcy in January 2015 amid creditor accusations that its parent Caesars Entertainment Corp. and private equity sponsors Apollo Global Management LLC and TPG Capital had stripped it of its best assets.
It was not immediately clear who, if anyone, would take over the role.
Caesars is the parent company of Harrah’s Lake Tahoe and Harveys.